New Zealand

How to get an IRD number in New Zealand?

To get an Inland Revenue Department (IRD) number in New Zealand, the following steps are to be followed:

  • Complete an IRD application form
  • Provide ID proof
  • If any of your documents are in another name, you’ll also need to bring an original and a clear photocopy of a document proving your name change
  • Verify your documents with any of the agents in NZ and they will forward your request to the Inland revenue
  • You’ll get an IRD number within 8 to 10 working days

What is the minimum number of directors required to start an LLC in NZ?

To start a Limited Liability Company in NZ, an applicant requires a minimum of 1 director.

What is the minimum share capital requirement for incorporating a company in NZ?

There is no minimum share capital requirement for setting up a business in NZ.

Is it necessary to be a resident of NZ in order to set up a business in NZ?

No, it is not necessary to be a resident of NZ to set up a company in NZ. However, one needs to appoint a resident to the role of a director in the company.

What is a company extract?

It is a document issued by the NZ Company’s registrar who displays important details such as (i) company number, (ii) registered address, (iii) shareholders and director’s details, and (iv) current status.

What is the cost of registering a company in NZ?

To register a company in New Zealand, an applicant needs to pay NZ$150 to the Registrar of Companies.

Is it necessary to appoint a Company Secretary in NZ?

The law does not require every NZ registered company to appoint a company secretary, however, appointment of company secretary by the Board of Directors is an important element of the governance structure.

What is FBT?

FBT (or fringe benefit tax) is tax paid by a company or employer on non-cash benefits paid to employees. This includes shareholder employees. The usual fringe benefits are cars, low interest loans and the personal use of business assets. It is payable quarterly or annually for some employers.

What is RWT?

Resident Withholding Tax (RWT) is the tax deducted on interest paid to New Zealand tax residents on their deposit accounts.

Do I need to register for GST in New Zealand?

If your business is at, or will reach, the $60,000 threshold, then yes – you must register for GST in New Zealand.